Anchor Capital Advisors LLC Raises Stake in Lamar Advertising (NASDAQ:LAMR)

Anchor Capital Advisors LLC increased its holdings in Lamar Advertising (NASDAQ:LAMR) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 497,558 shares of the real estate investment trust’s stock after acquiring an additional 62,316 shares during the quarter. Lamar Advertising makes up about 1.4% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 25th largest position. Anchor Capital Advisors LLC owned approximately 0.49% of Lamar Advertising worth $52,881,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in LAMR. Invesco Ltd. lifted its position in shares of Lamar Advertising by 43.4% during the 3rd quarter. Invesco Ltd. now owns 1,693,447 shares of the real estate investment trust’s stock valued at $141,352,000 after buying an additional 512,182 shares in the last quarter. Ranger Global Real Estate Advisors LLC raised its holdings in shares of Lamar Advertising by 129.2% during the 3rd quarter. Ranger Global Real Estate Advisors LLC now owns 477,140 shares of the real estate investment trust’s stock worth $39,827,000 after acquiring an additional 268,934 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Lamar Advertising by 146.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 390,876 shares of the real estate investment trust’s stock worth $32,626,000 after acquiring an additional 232,135 shares during the period. Makaira Partners LLC raised its holdings in shares of Lamar Advertising by 31.7% during the 3rd quarter. Makaira Partners LLC now owns 756,662 shares of the real estate investment trust’s stock worth $63,159,000 after acquiring an additional 182,111 shares during the period. Finally, Private Management Group Inc. purchased a new position in shares of Lamar Advertising during the 3rd quarter worth $12,233,000. 93.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LAMR has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a report on Monday, February 26th. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Finally, Morgan Stanley upped their price target on Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th.

Lamar Advertising Trading Up 0.9 %

NASDAQ:LAMR traded up $1.02 during mid-day trading on Monday, reaching $115.39. The company’s stock had a trading volume of 203,468 shares, compared to its average volume of 399,967. The company’s fifty day simple moving average is $114.25 and its two-hundred day simple moving average is $104.82. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.52 and a quick ratio of 0.52. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $121.99. The stock has a market cap of $11.78 billion, a P/E ratio of 23.58 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.49). Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. The company had revenue of $555.91 million for the quarter, compared to analysts’ expectations of $549.84 million. During the same quarter in the previous year, the business posted $1.91 earnings per share. On average, equities analysts predict that Lamar Advertising will post 7.54 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date was Thursday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. Lamar Advertising’s payout ratio is currently 107.22%.

Insider Transactions at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $118.97, for a total value of $594,850.00. Following the transaction, the chief financial officer now owns 10,000 shares in the company, valued at $1,189,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.98% of the stock is owned by insiders.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.